Doc's steakhouse owner files for Chapter 7 bankruptcy

SARATOGA SPRINGS -- While the company that owns Doc's Steakhouse filed for Chapter 7 bankruptcy this week in Albany federal court, the 63 Putnam St. restaurant plans to remain open.

The company, known as AGirls LLC, owes creditors more than $470,500, according to court documents. In 2008, the steakhouse earned $990,000, down from $1,050,000 in 2007. Earnings have been even lower in 2009 -- owner Laura LaPointe reported only $440,000 in earnings so far this year in court papers.

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According to court filings, creditors include HSBC, County Waste, U.S. Foods and First Funds LLC. AGirls also owes $80,000 in state sales taxes.

Two trustees have been appointed, Christian H. Dribusch and Diana G. Adams, both based in Albany. The trustees will likely sell the company's assets to pay off creditors. The business, located at 63 Putnam, has been for sale since February and is listed for $575,000. Doc's Steakhouse is a tenant in that building, the building is not for sale. Prior to the bankruptcy filing, RealtyUSA listing agent Joe D'Agostino said the opportunity was for the buyer to take over the business from LaPoint, or change it.

A meeting between the trustees and creditors is scheduled for Oct. 5 in Albany.